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April 28, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Philadelphia, Business Loans > Commerce Bank Philadelphia Business Loans > Travel Arrangement And Reservation Services Loan | ||||
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Commerce Bank Small Business Loan
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Small Business Loans for Travel Arrangement and Reservation ServicesLooking for small business loans for travel arrangement and reservation services? Talk to a banker who works with the SBA. This $300,000 travel arrangement and reservation services loan was issued by a Pennsylvania bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $300,000 from Commerce Bank. The SBA made the loan possible by guaranteeing $225,000 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: TRAVEL ARRANGEMENT AND RESERVATION SERVICES SBA Loan Lender COMMERCE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561599 - Travel Arrangement and Reservation Services Loan Approval Date 9/23/2005 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Accountant's Role in Securing Financing SBA 7A Lenders in Philadelphia, Pennsylvania
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